Historically,periodic Inventory Systems Have Been Used for Low Value,high Volume

question 21

True/False

Historically,periodic inventory systems have been used for low value,high volume items,whereas the perpetual inventory system has been used for high value,low volume items.

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Definitions:

Marginal Cost

An elevation in the cumulative expense resulting from manufacturing one more unit of a product or service.

Deadweight Loss

A decrease in economic efficiency resulting from the failure to reach equilibrium in the market for a good or service.

Monopolies

Market structures characterized by a single seller who controls the market supply of a good or service and can influence the price.

Efficiency

The optimal allocation of resources to maximize desired outputs without wasting any input.